World gold prices slightly decreased in the morning session of September 23rd after recovering in the previous session. The market continues to monitor signals from the US Federal Reserve (Fed) to assess the possibility of interest rates remaining high in the near future.
As of 10:00 AM on September 23rd Vietnam time, spot gold prices decreased by 0.57%, to 4,333.86 USD/ounce. December gold futures contracts decreased by 0.13%, to 4,370.72 USD/ounce.
Previously, spot gold prices at one point traded around 4,360 USD/ounce. The precious metal experienced a volatile trading session on September 22 before ending the session up about 0.4%.
The continued cooling of oil prices is becoming a factor being monitored by the gold market. WTI oil prices have fallen more than 10% compared to the closing level on September 16. The decline in oil may ease inflationary pressure, thereby reducing pressure on the Fed to maintain tight monetary policy.
However, interest rate prospects are still a factor putting pressure on gold. The Fed has raised interest rates by another 0.25 percentage points in a meeting last week and signaled that interest rates may continue to be raised in the coming months. High interest rates often reduce the attractiveness of gold because the precious metal does not generate income from interest.
The market is currently continuing to wait for Fed officials' statements to determine whether the recent interest rate hike is a single move or the beginning of a new tightening cycle. Oil price movements are also being monitored as they may affect inflation expectations and the course of monetary policy.
On the demand side, China continues to be a noteworthy point of the gold market. The amount of gold imported by this country in the first 8 months of 2026 exceeded 1,000 tons, higher than the total import volume of the whole year 2025. The decrease in international gold prices along with a more stable yuan are considered to be factors supporting demand in this large gold consumption market.
On the precious metals market, spot silver prices fell 0.94%, to 66.38 USD/ounce. Platinum prices fell 1.25%, to 1,812.49 USD/ounce. Meanwhile, palladium futures for December delivery fell 0.07%, to 1,305 USD/ounce.
